SOUTH African poultry producer Rainbow Chicken Ltd’s restructuring and cost-cutting drive is beginning to pay off, with the company reporting a turnaround in earnings in the first half, posting a profit of R2.29m after a loss of R40.72m in the same period last year. Rainbow expects full year profits to be higher than those posted last year, and forecast higher price realisations in the second half. However, it warned that as local economic conditions had not improved significantly, performance could be limited. Rainbow expressed concern about the December 27 expiry of provisional anti-dumping duties, which would again expose the local industry to continued volatility in international markets. – Reuters